1 (844) 589-9732

Georgia Release of Lien Bond

The Georgia release of lien bond transfers a mechanic’s lien to a surety bond while the matter is being litigated. Please call AmeriPro Surety Bonds today for this bond: 844-589-9732.

Georgia Release of Lien Bond |

AmeriPro Surety Bonds| 844-589-9732

Please note:  Before our agency will accept and review your lien documents or provide you with an application for a mechanic’s lien bond, there is a nonrefundable $75.00 application fee.  If you follow through and obtain the surety bond, that amount is deducted from your first annual premium.

 

In Georgia, the mechanic’s lien bond is in an amount that is TWICE the amount of the lien.  The bond is only secured by full cash collateral in the form of a wire or a cashier’s check.  Real or personal property — essentially any non-cash items — are not an acceptable form of collateral.  The premium, distinct from the collateral, is a minimum of $770 or 1% of the bond amount, whichever amount is greater. The premium also renews annually for as long as the bond is active. Premiums when paid, are earned in full. 

 

Mechanic’s Lien

 

 

 

To understand what a release of lien bond is, it’s important to first understand the definition of a mechanic’s lien.

A mechanic’s lien occurs when work is completed on a property and there is some dispute about the work and, consequently, the work is not paid for; or this is allegedly the case .

The contractor or person who has performed the work files a lien against the property. The lien may prevent the property from being refinanced, sold, or transferred, until the lien has been satisfied and released.

  • We will need a copy of the recorded lien and a corresponding Court case to facilitate procuring this surety bond.

 

 

 

Georgia Release of Lien Bond: What this Bond Is

 

 

 

In a court proceeding between a property owner, and a contractor, the judge will sometimes order the owner of the property to file a release of lien bond.  The Georgia release of bond therefore is this:

It  is a surety bond which allows a mechanic’s lien to be released from a property, and instead transfers the lien to the surety bond.

Georgia Release of Lien Bond: The Amount that You Must File

According to §44-14-364 of O.C.G.A the amount of the release of lien bond to be filed

  • is twice the amount of the lien claimed;

OR

  • In cases which involve residential property, the amount of the surety bond required is the amount of the lien claimed.

 

 

Full Collateral

 

 

 

The Georgia release of lien bond is typically backed by full collateral. This means that the purchaser, or principal of this surety bond, backs the bond fully with cash.

In lieu of cash, an irrevocable letter of credit from your (or, if legal counsel, your client’s) banking institution constitutes the same thing.

 

 

 

In Addition to the Full Collateral: Premium Which Renews Annually

 

 

 

In addition to the full collateral required of a release of lien bond, there is the premium required.  The premium represents a certain calculated percentage of the bond’s amount, usually approximately 2% of the bond’s face value.

The premium also renews annually, for as long as the lien is being litigated in court.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds provides court surety bonds throughout Georgia. We are a surety bonds only agency which provides bonds nationwide.

Please call our agency today at:

 

 

 

844-589-9732

 

 

 

OR,

You may fill out our contact form below and an agent will call you:

 

 

Request a Callback

  • Date Format: MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your surety bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Mortgage Broker Bond

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

Indiana Garnishment Bond

Indiana Garnishment Bond AmeriPro Surety Bond | 844-589-9732   Surety Bond; Purpose and Amount   As plaintiff in an Indiana civil court proceeding, the court may allow you, prejudgment, to seize the account, assets, or wages of the adverse party.  The seized...

Indiana Attachment Bond

Indiana Attachment Bond AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   An Indiana attachment order (aka ‘writ of attachment’ or ‘plaintiff’s attachment’) allows you, the plaintiff in a civil litigation proceeding, to seize and take...

Ohio Garnishment Bond

Ohio Garnishment Bond AmeriPro Surety Bonds | 844-589-9732   Surety Bond: Definition, Amount, and Purpose   An Ohio garnishment order allows a plaintiff in a civil litigation proceeding to seize the assets, wages, or accounts of a defendant, prejudgment.  A...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)